SINGAPORE, 4 MARCH 2011 - HSBC, SAP and SWIFT have unveiled a finance processing platform called HSBC Connect to SAP, for corporate customers that use SAP ERP software.
HSBC Connect to SAP comprises of SAP Bank Communication Management application and the SAP NetWeaver technology platform, as well as a pre-configured SWIFT component for optimised access to the SWIFT network.
SWIFT is an industry standard for bank-to-bank and bank-to-corporate connectivity. First launched in 2009, the current HSBC Connect to SAP version supports multi-bank connectivity and advanced HSBC-specific services.
"The ability to connect seamlessly with not just one bank, but several banking partners, is quickly becoming a priority in the corporate space," said Marcus Treacher, head of e-commerce, global transaction banking, HSBC. "As our HSBC Connect to SAP solution evolves, our collaborative approach sets this solution apart from others and allows us to continue to meet the connectivity needs of our corporate customers."
The three partners have also announced a collaboration agreement to help ensure successful market adoption of the product. The platform is scheduled for availability in the third quarter of 2011.
The bank would develop and deploy connectivity products in consultation with the SAP Custom Development organisation and SWIFT in three main phases: 1) payment and select treasury services; 2) trade finance and remaining treasury services; and 3) regulatory reporting services. The three parties plan to initially develop functionality for HSBC/SAP clients, with the goal of later expanding to broader markets as well.
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